Boing US Holdco Inc. Acquires Development Site In Voorhees For $1.15M
121 NJ-73 Voorhees Township, NJ 08043, USA
$1,150,000
Building Size
—
Asset Type
Development Site
Closing
Sep 1, 2023
AI
Rose Commercial Real Estate has sold nearly 2 acres of land in Voorhees, New Jersey, for $1.15 million. The prime location on Route 73, near Virtua Hospital, will be the future site of a "stay in your car" car wash service called Take 5.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,150,000
- Address: 121 Route 73 South
- Market: Voorhees
- Buyer: Boing US Holdco Inc.
- Seller: Medical Properties Route 73 LLC
- Broker: Adam Rose (Rose Commercial Real Estate), Kevin Healey (Tri State Commercial)
- Acres: 2
Adam Rose from Rose Commercial Real Estate and Kevin Healey from Tri State Commercial facilitated the sale of the property. The transaction involved Boing US Holdco Inc. as the buyer and Medical Properties Route 73 LLC as the seller. The deal attracted attention due to the prime location and the potential for a "stay in your car" car wash service.
Players
Voorhees Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93